Hertz was within a day of issuing more shares before the SEC told them to fuck off because it was bankrupt and the prospectus was literally “you will likely lose all of your money immediately”.

GameStop has had enough time to do an additional offering. It can happen in a couple of days.

> Hertz was within a day of issuing more shares before the SEC told them to fuck off

Your timing is off, Hertz was selling shares in the morning, and stopped when SEC called them. They stopped selling promptly, but not before "Hertz Global issued 13,912,368 shares under the ATM Program for net proceeds of approximately $29 million"

https://www.sec.gov/ix?doc=/Archives/edgar/data/47129/000165...

Gamestop already had an ATM offering they registered for in December; I'm awaiting the news of what price they sold at with popcorn at the ready.

Exactly.

Their boards authorize it. It takes a phone call to have a board meeting. A company could do a board meeting by tweeting each other if they wanted. Filing that a private placement (to the short holders) has occurred is followup paperwork. A company that gets immensely overvalued is doing their shareholders a disservice by not capturing that valuation.

The articles of incorporation dictate what a company needs to do to issue shares. GameStop, for example, requires a vote of the majority of voting shares (of which there are 50 billion votes among the preferred shareholders and 300 million votes among the common shareholders).

That said GameStop is authorized for 300 million common shares and there are only 70 million outstanding according to this table so if their corporate treasury has been at all competent they might be sitting on a huge pile of cash right now.

If they wished a quick way to bankruptcy, that would certainly be it.

Make enemies and robbing both your customers and your investors in 1 single move. I don't think there has been anything as foul in history, has there?

Having a high stock price does altogether nothing for the company if they can't sell stock. Similarly, having a low stock price doesn't bankrupt a company.

I think you missed my point.

Low stock price wont make a company bankrupt, agree.

But if in the process of doing so, you stole value from your own 19yr old stockholders.... then its pretty certain you just painted a bulleye on you. And... They are also your targer demographic customer base. Woops! Lets see how quickly your revenues dip to $0 after that.

If you have $0 revenue you dont have a business. Period.

It's GameStop... They already have garbage revenue. They don't have a business. They're failing. Hence the short. Issuing shares while the stock price is high is not only an everyday business move but it's also the correct thing for them to do here. AMC has already done it.

On Monday (yes, this Monday) AMC announced they would issue and sell 50 million shares. Yesterday (Wednesday) they announced they had finished selling all 50 million shares: https://investor.amctheatres.com/newsroom/news-details/2021/....